Japan's foreign reserves hit record high
At the end of August, Japan's foreign
exchange reserves had increased by 19.68 billion USD from the previous
month to set a new record of 1.04 trillion USD, the Finance Ministry
said.
At the end of August, Japan's foreign
exchange reserves had increased by 19.68 billion USD from the previous
month to set a new record of 1.04 trillion USD, the Finance Ministry
said.
The increase for the second consecutive month in its foreign reserves was attributed to a rise in the country’s holdings of special rights at the International Monetary Fund.
Japan received the equivalent of 15.3 billion USD in SDRs, a synthetic currency, from the Washington-based lender late last month, reported the Kyodo News, citing the ministry as the source of their information.
Japan 's foreign reserves, the world's second largest after China 's, set a new record for the first time since December, due to a rise in the value of its US Treasury bonds and EUR-denominated assets, the ministry said.
The previous record was 1.03 trillion USD last December.
Japan's foreign exchange reserves consist mainly of securities and deposits of foreign currencies, gold reserves and SDRs at the IMF, according to Kyodo News.
SDRs can be used for transactions amongst IMF member countries and be converted into USD and other currencies./.
The increase for the second consecutive month in its foreign reserves was attributed to a rise in the country’s holdings of special rights at the International Monetary Fund.
Japan received the equivalent of 15.3 billion USD in SDRs, a synthetic currency, from the Washington-based lender late last month, reported the Kyodo News, citing the ministry as the source of their information.
Japan 's foreign reserves, the world's second largest after China 's, set a new record for the first time since December, due to a rise in the value of its US Treasury bonds and EUR-denominated assets, the ministry said.
The previous record was 1.03 trillion USD last December.
Japan's foreign exchange reserves consist mainly of securities and deposits of foreign currencies, gold reserves and SDRs at the IMF, according to Kyodo News.
SDRs can be used for transactions amongst IMF member countries and be converted into USD and other currencies./.
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